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FEDERAL RESERVE BOARD WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE TO THE FEDERAL RESERVE BOARD X-4677 September 24, 1926. Dear Sir: In the considerations which have been given during the past two years to the ~estion of whether or not the Federal reserve banks should discontinue the handling of so-called non•caSh collection items, considerable opposition has developed to the continuance of the service as at present, ~~at is, without charge and without limitation as to items pa¥-eble at street addresses. The provisions of the Federal Reserve Act authorize •but d.o not require the Federal reserve· banks to handle non-cash items and the inauguration of the function was not the result of an order by the Federal Reserve Board, but rather at its suggestion. The ~ard wishes to suggest to the Federal reserve banlm that each bank exercise its own option as to the collection of non-cash items at street addresses, but continue the collection of non-cash items collectible at banks. Very tru.ly yours, D. R. Crissinger, Governor. TO GOVEB.BORS OF ~LL F. R. B..;u"Ulli.
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